Natural gas: UNG finishes rollover... to find yet more contango

As UNG has just finished rolling over its contracts, we now look at the contango situation for May contracts:

Between May and June contracts we do have contango, of 1.77%. This is number has been relatively steady. This is not good for UNG. Natural gas prices have benefited from the nuclear chaos in Japan as some investors seem to think that natural gas can be used in lieu of Uranium. This is likely a temporary situation.